South Korea vs the United Kingdom: Economic Indicators Comparison
The United Kingdom with a GDP of $2.9T ranked the 5th largest economy in the world, while South Korea ranked 12th with $1.6T. By GDP 5-years average growth and GDP per capita, the United Kingdom and South Korea ranked 126th vs 93rd and 23rd vs 33rd, respectively.
Gross Domestic Product & Income
| Stat |  South Korea |  United Kingdom |
|---|---|---|
| GDP | $1.6T | $2.9T |
| GDP growth, 1 year | 2.7% | 1.4% |
| GDP growth, 5-years average | 3% | 2.1% |
| Population | 51.5M | 66M |
| GDP per capita | $31k | $43k |
| GDP per capita growth | 2.33% | 0.73% |
| Purchasing Power Parity conversion factor | 860.51 | 0.7 |
| Price level ratio of PPP conversion factor GDP to market exchange rate | 0.78 | 0.93 |
| GDP per capita, PPP adjusted | $41k | $46k |
| GNI, Atlas method | $1.6T | $2.8T |
| GNI per capita | $31k | $42k |
| GNI, PPP adjusted | $2.1T | $3T |
| GNI per capita, PPP adjusted | $40k | $45k |
Financial system and Human development
| Stat | South Korea | United Kingdom |
|---|---|---|
| Income Tax Rate | 42% | 45% |
| Corporate Tax Rate | 25% | 20% |
| Inflation, consumer prices | 1.5% | 2.5% |
| Inflation, GDP deflator | 0.3% | 1.9% |
| Unemployment | 3.8% | 4% |
| Economic Freedom Index | 74 | 79.3 |
| Personal Freedom Index | 8.84 | 9.08 |
| Human Freedom Index | 8.15 | 8.55 |
| Property Rights Index | 82.5 | 92.2 |
| Judical Effectiveness Index | 61 | 82.7 |
| Business Freedom Index | 90.5 | 94.7 |
| Fiscal Health Index | 96.7 | 78.1 |
| Labor Freedom Index | 56.2 | 73.1 |
| Investment Freedom Index | 70 | 80 |
| Financial Freedom Index | 70 | 80 |
| Trade Freedom Index | 80 | 86.4 |
| Monetary Freedom Index | 82.1 | 80.3 |
| Government Spending Index | 67.7 | 49.5 |
| Tax Burden Index | 63.9 | 64.7 |
| Government Integrity Index | 67.5 | 89.9 |
| Corruption Perceptions Index | 57 | 80 |
| Life expectancy at birth, years | 82.6 | 81.2 |
| Suicide mortality rate, per 100,000 people | 26.9 | 8.9 |
| Mortality caused by road traffic injury, per 100,000 people | 9.8 | 3.1 |
| Intentional homicides, per 100,000 people | 0.6 | 1.2 |
| International tourism, number of arrivals | 15.3M | 36.3M |
Government debt & reserves
| Stat | South Korea | United Kingdom |
|---|---|---|
| Central government debt, % of GDP | 40.7% | 86.9% |
| External debt stocks, % of GNI | N/A | N/A |
| External debt stocks | N/A | N/A |
| Short-term debt, % of total reserves | N/A | N/A |
| Total debt service, % of exports and primary income | N/A | N/A |
| Adjusted net savings including particulate emission damage, % of GNI | 20.1% | 5.5% |
| Gross savings, % of GDP | 34.7% | 13.4% |
| Gross capital formation, % of GDP | 30.2% | 17.3% |
| Total reserves including gold | $403.1B | $172.7B |
| Foreign direct investment net inflows | $14.5B | $35.1B |
Exports, imports and economic structure
| Stat | South Korea | United Kingdom |
|---|---|---|
| Exports of goods and services, % of GDP | 44% | 30% |
| Imports of goods and services, % of GDP | 39% | 31.8% |
| Current account balance (balance of payments) | $76.4B | -$123.1B |
| Revenue excluding grants, % of GDP | 27.8% | 35.3% |
| Grants excluding technical cooperation, BoP | $6.7M | N/A |
| Personal remittances received | $7.1B | $4.4B |
| Industry including construction value added, % of GDP | 35.1% | 17.5% |
| Agriculture, forestry and fishing value added, % of GDP | 2% | 0.6% |
| Charges for the use of intellectual property, payments BoP | $9.9B | $13.5B |
| Charges for the use of intellectual property, receipts BoP | $7.8B | $21.7B |
| Expense, % of GDP | 25.4% | 36% |
| Government Expenditure, % of GDP | 32.8% | 41% |
